Research
US asks if it is losing its productivity advantage
Strong labour productivity growth in China and India may force some US firms out of business, but will also benefit the world's largest economy.
HK market structure has little impact on profit
Cost efficiency is significantly more important than market structure in determining the profitability of banks in Hong Kong, according to research published by the Hong Kong Monetary Authority (HKMA).
Interest rates and the economy: the best models
Analysis conducted by the Bank of Canada of six models looking at the relationship between the term structure of interest rates and the macroeconomy, found those following Diebold and Li's work performed the best.
Slovenia's capital failure
The poor performance of Slovenia's capital markets illustrates the difficulties in developing capital markets in small emerging economies, according to a paper published by the International Monetary Fund.
A beginner's guide to the Phillips Curve
The Richmond branch of the Federal Reserve has published an introduction to the Phillips curve, a graph which underpins the relationship between unemployment and inflation.
Exchange rates' adjustments in booms and busts
The European Central Bank has published a study looking at the relationship between boom-bust episodes in asset prices over the past two decades and exchange rates.
Survey reveals borrowing woes for UK firms
UK businesses will struggle to borrow in the coming months but households will find banks still willing to lend, according to the Bank of England's latest credit conditions survey, published on Wednesday.
Research finds East Asian ratings discrepancy
A significant discrepancy exists between agency ratings and market-based default risk measures for East Asian banks, according to a paper published by the Hong Kong Monetary Authority on Tuesday.
Some grim reading for bankers
A paper published by the European Central Bank has found the interdependence of lending decisions by national subsidiaries of global banks can lead to contagion.
Liquidity and the lender of last resort
A Banque de France research paper has found that a relatively small liquidity shock can disrupt markets, which means the probability of default for leveraged investors is higher than standard risk measures suggest.
BIS paper on house prices in emerging Europe
This BIS working paper examines the determinants of house price increases in central and eastern Europe.
EMU has led to increased stability and convergence
Monetary union has led to increased stability and convergence of financial markets in euro area, a new paper from the CEPR finds.
Links between ownership, market structure and risk
The relationship in developing countries between banks' risk of failure, market structure, their ownership, and screening and bankruptcy costs is investigated in an International Monetary Fund paper published on Wednesday.
The effect of expansion on EU inflation rules
The Bank of Estonia has published a paper that examines the impact of the expansion of the EU on the Maastricht inflation criterion.
Rate signals and CB transparency
Interest rates should be added to the list of signals that central banks can reveal in order to be transparent, according to a paper published by the Centre for Economic Policy Research.
A case for hedge fund regulation
The unique nature of hedge funds could lead to market failures that counterparty credit risk management (CCRM) practices cannot easily assess, according to an article published by the New York Federal Reserve.
Fed's Beige Book published
"Outside of real estate, reports that the turmoil in financial markets had affected economic activity during the survey period were limited," the Fed said in its latest "Beige Book" on economic conditions, featuring reports from the 12 regional Fed…
Globalisation's impact on UK inflation
The author of this paper uses the International Monetary Fund's new Global Economy Model (GEM) to estimate the importance of various factors, which are used to explain the differences in the trends in core inflation and relative prices in the UK, the…
ECB rate setting analysed
This paper, published by the Institute for Monetary and Financial Stability, uses the ordered-probit technique and variables noted in the European Central Bank's (ECB's) Monthly Bulletin to investigate how the central bank sets rates.
Aging, demand and the structure of wages
Substantial shifts in the age distribution of the working population are being brought about by demographic change.
Algeria's unemployment relatively high
This paper considers the determinants of labour market performance in Algeria.
Fed Board's Mishkin writes on housing crisis
In a timely paper, Frederic Mishkin, one of five current members of the Federal Reserve's Board of Governors, has emphasised the importance of the housing industry on the US economy. Mishkin said: "The housing market is of central concern to monetary…
IMES series covers Asian economic trends
The Institute for Monetary and Economic Studies at the Bank of Japan has published a discussion paper e-series covering a host of topical Asian issues.
Notes on surviving illiquidity
The Cleveland Federal Reserve Board has published a paper that examines crashes and recoveries in illiquid markets.